Press release
Operational Technology Market Gaining With 7.2% Per Annum And Expanding With ABB, Siemens, Honeywell, General Electric, Schneider By 2025
Operational Technology Market,
The Global Operational Technology Market accounted for USD 28.96 billion in 2016 growing at a CAGR of 7.2% during the forecast period of 2017 to 2024.
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Major Market Drivers & Restraints:
• Growing demand for smart automation solutions
• Changing needs and preferences of customers
• Increasing demand for industrialization in emerging economies
• Lack of sufficient initiatives from the governments
• Supply chain disruptions
Market Segmentation: Global Operational Technology Market
The global operational technology market is segmented on the basis of component into field devices, control system, services. The field devices segment is further sub segmented into valves, actuators, transmitters, and switches. The control systems segment is further sub segmented into SCADA systems, DCS, PLC, PLM systems, MES, and safety automation systems. The services segment is further sub segmented into OEM services, remote diagnostics and maintenance services, and predictive maintenance services.
On the basis of networking technology, the global operational technology market is segmented into wired technology and wireless technology. The wired technology segment is further sub segmented into ethernet, modbus, profinet, foundation fieldbus, hart, and others. The wireless technology segment is further sub segmented into wi-fi, zigbee, whart, ISA100, bluetooth, cellular technologies, and satellite technologies.
On the basis of end-user, the global operational technology market is segmented into process industry, and non-process industries. The process industry segment is further sub segmented into food and beverages, chemical, energy and power, oil and gas, metals and mining and others. The non-process industry segment is further sub segmented into aerospace and defense, automotive, medical, agriculture, building, and others.
On the basis of geography, the global operational technology market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
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Operational technology is the category of hardware and software that controls the physical processes, devices and infrastructures. Earlier operational technology was only used in industrial control systems for manufacturing, transportation and utilities and also the technologies had networking limitation. The conventional mechanically driven operation is now being replaced by operational technology in advent of the technological advancements in communication and networking. Now, such physical devices are becoming smart and also increasing trend for smart operational technologies. Such technologies have provided administrators to perform their tasks remotely and getting work done in the real time.
Company Share Analysis: Global Operational Technology Market
The report for global operational technology market include detailed vendor level analysis for market shares in 2016 for Global, North America, Europe, Asia Pacific, Middle East and Africa and South America specifically. Also impact and development analysis of key vendors is registered in the market and factored on the basis of Vendor Positioning Grid Analysis which measures the vendors strengths and opportunities against present market challenges, measure providers ability to identify or satisfy present market needs, map providers market vision to current and upcoming market dynamics among others. The report also measures technology life line curve and market time line to analyze and do more affective investments.
Major Market Competitors: Global Operational Technology Market
Some of the major players of the global operational technology market are ABB, Siemens AG, Honeywell International Inc., General Electric, Schneider Electric, Rockwell Automation, Inc., Yokogawa India Ltd., Emerson, Advantech Co., Ltd., FANUC INDIA Private Limited., Nextnine Inc., SCADAfence, John Wood Group PLC, Wunderlich-Malec, TESCO CONTROLS, INC., SAP SE, IBM Corporation, Cisco Systems, Oracle, Huawei Technologies Co., Ltd., Hewlett Packard Enterprise Development LP, NEC India Pvt. Ltd., Cognizant, Accenture, Wipro and others.
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